Major investors have added to their stakes in physically-backed gold exchange-traded funds and central banks have bought the metal at a record pace — good signs that gold’s about to break out of its recent trading range, but not necessarily indicative of a major rally . “Too many gold bulls are hanging their hat” on quantitative easing (QE) from either the U.S. Federal Reserve or European Central Bank, said Ed Bugos, director of mining finance at Precious Metals Equity Research. That mentality is particularly worrisome given the uncertainty surrounding further QE, which helps stimulate the economy, devalue currencies ... (full story)